India Ink: India Reacts to Tendulkar's Retirement from One-Day Cricket

The Indian batsman Sachin Tendulkar said Sunday that he was retiring from One Day International cricket.

“I have decided to retire from the One Day format of the game. I feel blessed to have fulfilled the dream of being part of a World Cup winning Indian team,” Tendulkar said in a statement released by the Board of Control for Cricket in India.

With the decision, Tendulkar, who enjoys Godlike stature for many in India and abroad, drew the curtain on a 23-year career in the format, called O.D.I., having played 463 O.D.I.s, scored 18,426 runs and made 49 centuries. He holds the record for being the highest run scorer in this format of the game and has also made the largest number of centuries, played the greatest number of games and, along with the former Indian batsman Rahul Dravid, holds the record for highest partnership (331 runs against New Zealand).

Understandably, his decision has left some very distraught Indian cricket fans, who expressed their grief and almost a sense of bereavement on Twitter and other social media platforms.

“Tendulkar retires from ODI. End of an era. For the past 20 years, we were fortunate to watch & enjoy some amazing cricket, thanks to him,” an orthodontist based in Malaysia, who uses the Twitter handle Sabarinathan, tweeted.

“Finally world Ended in 2012,” a reader named Ashish, from Pune, commented on a Times of India story about the retirement.

B.C.C.I. officials, however, seemed less than perturbed.

“Tendulkar’s decision is not a shocker for B.C.C.I. He was waiting for the right time,” Ratnakar Shetty, the chief administrative officer, told reporters. “What he has expressed is his concern that India has to prepare for the next World Cup. From that point of view, he felt that it was time that he retired.”

“A person of his caliber knows what to do. He has always taken the right decision at the right time. He will continue to do that in future as well,” Sanjay Jagdale, the board’s general secretary, told reporters.

Reaction from the cricketing community in India was mixed.

“Sachin tendulkar a great batsman.great human being.a great friend.great man to look up 2.proud indian.Real son of india.I salute u nd love u,” the cricketer Harbhajan Singh tweeted.

“He has done Indian cricket a favor…. He has played a great deal of cricket and noone can compare to him but all I can say is: better late than never,” the former Indian cricketer Kirti Azad said in an interview with the news channel ABP.

Some fans, too, lauded Tendular’s decision as the right move at the right time.

“A late, but correct decision by Tendulkar. He will be missed but time had come,” Imran Asghar, who according to his Twitter profile is a British Pakistani, tweeted.

Tendulkar, it seems, has a special connection with India’s archrival, Pakistan. He made his debut in O.D.I.’s, nearly two decades ago, against Pakistan on Dec. 18, 1989. His last O.D.I. was also against Pakistan, in Dhaka, Bangladesh, during the Asia Cup last March, where he scored 52 runs. India won the match.

Coincidentally his announcement came on a day that the Indian team for the two T20s and three O.D.I.’s with Pakistan, which will start next week, was announced.

“Sachin’s announcement has come as a big surprise,” Krishnamachari Srikkanth, former chairman of the selection committee for the Indian team, told news channel CNN-IBN. “I thought he would play in the one-day series against Pakistan.”

Despite a string of poor performances recently, Tendulkar bid adieu to his home audience in style. His last O.D.I. played in India was the World Cup final match against Sri Lanka in his hometown, Mumbai. India won the match and World Cup 2011, following a nearly three-decade wait after its 1983 World Cup victory.

“I would like to wish the team all the very best for the future. I am eternally grateful to all my well wishers for their unconditional support and love over the years,” he said in his statement.

However, he has announced no plans to retire from Test matches, the longer five-day format of the game.

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News summary: Nintendo’s TVii replaces the remote

TVii LAUNCH: Nintendo if flipping on its TVii service Thursday, a month after sales started for its Wii U game console. The service turns the GamePad controller into a TV remote control, channel guide and Web video surfer.

SALES HOPES: Nintendo hopes the free service boosts sales of the console after recording 425,000 sales in the first week since its Nov. 18 launch.

HEAD START: It’s the first time a game console maker has put live TV controls into a device, but analyst Michael Pachter says competitors will copy the function soon.

Gaming News Headlines – Yahoo! News

Title Post: News summary: Nintendo’s TVii replaces the remote
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Linnea Johansson Blogs About Making Your Home Party-Ready

By Linnea Johansson

12/23/2012 at 08:05 AM EST

Party planner Linnea Johansson (standing)

Adrian Mueller - Fabrik Studios

Celebrity event planner and chef Linnea Johansson knows how to throw a party. She's worked with A-list stars such as Richard Gere, Susan Sarandon and Justin Timberlake and just released her second book, Perfect Parties – Tips and Recipes from a New York Party Planner in October. Now she's lending her expertise to PEOPLE.com with two blogs geared toward your holiday party planning. Cheers!

When planning a holiday party or a bash for any time of year, you may want to start with an easy, inexpensive dining room makeover.

Giving your old chairs a new look in no time to spruce up your dining room for the holidays and/or any party occasion. Simply wrap fabric against the back of the chairs and then staple the fabric on the inside of the back ... and you have new chair slip covers in a jiffy. This works great at home, and you can easily create a new look for a room.

This trick has saved me many times. I once did an event for the Food Network to honor their stars. There was not much to do on the food end as all the show hosts and chefs sent over their recipes for a menu. The space was beautiful but the chairs I rented arrived in the wrong color. So I had to do a little last minute dining room makeover. My team and I rushed out and got fabric from the office and did a quick makeover for the chairs right before the guests started to arrive.

Light It Like Gere
Most of my clients think I am crazy when I say I want to spend 50% of the decor budget on lighting. I always have to tell them the same story to convince them. When doing a job with Richard Gere and his wife at their restaurant the Bedford Post Inn, they not only had tons of cozy lighting in their restaurant, but also had little pink lights throughout the space. As he has been in countless movies, Richard told me that pinkish-hued lights is a movie set trick and makes everyone look great and at least 10 years younger. I have been using pink lights ever since. Thanks, Richard!

Linnea Johansson's book, Perfect Parties

So no matter how lavish or casual the party, lighting is the way to make a regular space look different and sets the mood. For at home entertaining, I start by shutting off all the overhead lights and directing any spotlights at your best looking décor item, whether that's flower arrangements, the buffet or the dinner table. You can simply buy cheap spotlights and set up for the night, or make votive holders by simply wrapping drinking glasses in decorative paper and taping the back, then add votive candles. Cluster the votives around the area you want to highlight.

DIY Frame-to-Trays
Turning frames into trays is one of my favorite decor tricks, and I have used it at countless events. Simply buy a cheap frame, and frame a decorative fabric or decorative paper. Then you can use it as a serving tray, platter on a buffet or decorative charger under your guest plates – easy and cheap to create. And the best part is, for the next party, you can simply frame something new to match that parties theme. As you can imagine, my office has quite a few frames stacked in it.

Table Decor & Bar in One

I love creating a beautiful flowering punch bowl in the middle of the table; it works like a self-serve bar and great table decoration, all in one. As an extra bonus, you'll keep the party decor bill down. Slice seasonal fruit or my favorite, edible flowers. You can also freeze the fruit or flowers into a large ice block. Place a few votive candles around the punch bowl and it will sparkle and glow.

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Predicting who's at risk for violence isn't easy

CHICAGO (AP) — It happened after Columbine, Virginia Tech, Aurora, Colo., and now Sandy Hook: People figure there surely were signs of impending violence. But experts say predicting who will be the next mass shooter is virtually impossible — partly because as commonplace as these calamities seem, they are relatively rare crimes.

Still, a combination of risk factors in troubled kids or adults including drug use and easy access to guns can increase the likelihood of violence, experts say.

But warning signs "only become crystal clear in the aftermath, said James Alan Fox, a Northeastern University criminology professor who has studied and written about mass killings.

"They're yellow flags. They only become red flags once the blood is spilled," he said.

Whether 20-year-old Adam Lanza, who used his mother's guns to kill her and then 20 children and six adults at their Connecticut school, made any hints about his plans isn't publicly known.

Fox said that sometimes, in the days, weeks or months preceding their crimes, mass murderers voice threats, or hints, either verbally or in writing, things like "'don't come to school tomorrow,'" or "'they're going to be sorry for mistreating me.'" Some prepare by target practicing, and plan their clothing "as well as their arsenal." (Police said Lanza went to shooting ranges with his mother in the past but not in the last six months.)

Although words might indicate a grudge, they don't necessarily mean violence will follow. And, of course, most who threaten never act, Fox said.

Even so, experts say threats of violence from troubled teens and young adults should be taken seriously and parents should attempt to get them a mental health evaluation and treatment if needed.

"In general, the police are unlikely to be able to do anything unless and until a crime has been committed," said Dr. Paul Appelbaum, a Columbia University professor of psychiatry, medicine and law. "Calling the police to confront a troubled teen has often led to tragedy."

The American Academy of Child & Adolescent Psychiatry says violent behavior should not be dismissed as "just a phase they're going through."

In a guidelines for families, the academy lists several risk factors for violence, including:

—Previous violent or aggressive behavior

—Being a victim of physical or sexual abuse

—Guns in the home

—Use of drugs or alcohol

—Brain damage from a head injury

Those with several of these risk factors should be evaluated by a mental health expert if they also show certain behaviors, including intense anger, frequent temper outbursts, extreme irritability or impulsiveness, the academy says. They may be more likely than others to become violent, although that doesn't mean they're at risk for the kind of violence that happened in Newtown, Conn.

Lanza, the Connecticut shooter, was socially withdrawn and awkward, and has been said to have had Asperger's disorder, a mild form of autism that has no clear connection with violence.

Autism experts and advocacy groups have complained that Asperger's is being unfairly blamed for the shootings, and say people with the disorder are much more likely to be victims of bullying and violence by others.

According to a research review published this year in Annals of General Psychiatry, most people with Asperger's who commit violent crimes have serious, often undiagnosed mental problems. That includes bipolar disorder, depression and personality disorders. It's not publicly known if Lanza had any of these, which in severe cases can include delusions and other psychotic symptoms.

Young adulthood is when psychotic illnesses typically emerge, and Appelbaum said there are several signs that a troubled teen or young adult might be heading in that direction: isolating themselves from friends and peers, spending long periods alone in their rooms, plummeting grades if they're still in school and expressing disturbing thoughts or fears that others are trying to hurt them.

Appelbaum said the most agonizing calls he gets are from parents whose children are descending into severe mental illness but who deny they are sick and refuse to go for treatment.

And in the case of adults, forcing them into treatment is difficult and dependent on laws that vary by state.

All states have laws that allow some form of court-ordered treatment, typically in a hospital for people considered a danger to themselves or others. Connecticut is among a handful with no option for court-ordered treatment in a less restrictive community setting, said Kristina Ragosta, an attorney with the Treatment Advocacy Center, a national group that advocates better access to mental health treatment.

Lanza's medical records haven't been publicly disclosed and authorities haven't said if it is known what type of treatment his family may have sought for him. Lanza killed himself at the school.

Jennifer Hoff of Mission Viejo, Calif. has a 19-year-old bipolar son who has had hallucinations, delusions and violent behavior for years. When he was younger and threatened to harm himself, she'd call 911 and leave the door unlocked for paramedics, who'd take him to a hospital for inpatient mental care.

Now that he's an adult, she said he has refused medication, left home, and authorities have indicated he can't be forced into treatment unless he harms himself — or commits a violent crime and is imprisoned. Hoff thinks prison is where he's headed — he's in jail, charged in an unarmed bank robbery.

___

Online:

American Academy of Child & Adolescent Psychiatry: http://www.aacap.org

___

AP Medical Writer Lindsey Tanner can be reached at http://www.twitter.com/LindseyTanner

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Wall Street Week Ahead: A lump of coal for "Fiscal Cliff-mas"

NEW YORK (Reuters) - Wall Street traders are going to have to pack their tablets and work computers in their holiday luggage after all.

A traditionally quiet week could become hellish for traders as politicians in Washington are likely to fall short of an agreement to deal with $600 billion in tax hikes and spending cuts due to kick in early next year. Many economists forecast that this "fiscal cliff" will push the economy into recession.

Thursday's debacle in the U.S. House of Representatives, where Speaker John Boehner failed to secure passage of his own bill that was meant to pressure President Obama and Senate Democrats, only added to worry that the protracted budget talks will stretch into 2013.

Still, the market remains resilient. Friday's decline on Wall Street, triggered by Boehner's fiasco, was not enough to prevent the S&P 500 from posting its best week in four.

"The markets have been sort of taking this in stride," said Sandy Lincoln, chief market strategist at BMO Asset Management U.S. in Chicago, which has about $38 billion in assets under management.

"The markets still basically believe that something will be done," he said.

If something happens next week, it will come in a short time frame. Markets will be open for a half-day on Christmas Eve, when Congress will not be in session, and will close on Tuesday for Christmas. Wall Street will resume regular stock trading on Wednesday, but volume is expected to be light throughout the rest of the week with scores of market participants away on a holiday break.

For the week, the three major U.S. stock indexes posted gains, with the Dow Jones industrial average <.dji> up 0.4 percent, the S&P 500 <.spx> up 1.2 percent and the Nasdaq Composite Index <.ixic> up 1.7 percent.

Stocks also have booked solid gains for the year so far, with just five trading sessions left in 2012: The Dow has advanced 8 percent, while the S&P 500 has climbed 13.7 percent and the Nasdaq has jumped 16 percent.

IT COULD GET A LITTLE CRAZY

Equity volumes are expected to fall sharply next week. Last year, daily volume on each of the last five trading days dropped on average by about 49 percent, compared with the rest of 2011 - to just over 4 billion shares a day exchanging hands on the New York Stock Exchange, the Nasdaq and NYSE MKT in the final five sessions of the year from a 2011 daily average of 7.9 billion.

If the trend repeats, low volumes could generate a spike in volatility as traders keep track of any advance in the cliff talks in Washington.

"I'm guessing it's going to be a low volume week. There's not a whole lot other than the fiscal cliff that is going to continue to take the headlines," said Joe Bell, senior equity analyst at Schaeffer's Investment Research, in Cincinnati.

"A lot of people already have a foot out the door, and with the possibility of some market-moving news, you get the possibility of increased volatility."

Economic data would have to be way off the mark to move markets next week. But if the recent trend of better-than-expected economic data holds, stocks will have strong fundamental support that could prevent selling from getting overextended even as the fiscal cliff negotiations grind along.

Small and mid-cap stocks have outperformed their larger peers in the last couple of months, indicating a shift in investor sentiment toward the U.S. economy. The S&P MidCap 400 Index <.mid> overcame a technical level by confirming its close above 1,000 for a second week.

"We view the outperformance of the mid-caps and the break of that level as a strong sign for the overall market," Schaeffer's Bell said.

"Whenever you have flight to risk, it shows investors are beginning to have more of a risk appetite."

Evidence of that shift could be a spike in shares in the defense sector, expected to take a hit as defense spending is a key component of the budget talks.

The PHLX defense sector index <.dfx> hit a historic high on Thursday, and far outperformed the market on Friday with a dip of just 0.26 percent, while the three major U.S. stock indexes finished the day down about 1 percent.

Following a half-day on Wall Street on Monday ahead of the Christmas holiday, Wednesday will bring the S&P/Case-Shiller Home Price Index. It is expected to show a ninth-straight month of gains.

U.S. jobless claims on Thursday are seen roughly in line with the previous week's level, with the forecast at 360,000 new filings for unemployment insurance, compared with the previous week's 361,000.

(Wall St Week Ahead runs every Friday. Questions or comments on this column can be emailed to: rodrigo.campos(at)thomsonreuters.com)

(Reporting by Rodrigo Campos; Additional reporting by Chuck Mikolajczak; Editing by Jan Paschal)

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Rev. Robert W. Oliver to Lead Vatican’s Review of Sex Abuse Claims

VATICAN CITY — The pope has put a priest from the archdiocese of Boston, the center of a clerical sex abuse scandal in the United States, in charge of the Vatican’s review of sex abuse by priests.

The Vatican said Saturday that the Rev. Robert W. Oliver, a canonical specialist in the archdiocese, would succeed Bishop Charles Scicluna, who was recently named auxiliary bishop in his native Malta.

Bishop Scicluna’s departure had sparked some fears among sex abuse victims that the Vatican might roll back on the tough line on clergy abuse he charted in his 10 years at the Congregation of the Doctrine of the Faith.

The Vatican office, which Pope Benedict XVI headed for nearly a quarter century, reviews all cases of clerical sex abuse, telling bishops how to proceed against accused priests.

The pope also granted his former butler a Christmas pardon on Saturday for stealing the pontiff’s private papers and leaking them to a journalist, one of the gravest Vatican security breaches in recent times.

The pope met for 15 minutes with the butler Paolo Gabriele in the prison where he was serving his sentence. Mr. Gabriele was subsequently freed and returned to his Vatican City apartment where he lived with his wife and three children.

The Vatican said he would not continue living or working in the Vatican, but that it “intends to offer him the possibility to serenely restart his life together with his family.”

The Vatican spokesman, the Rev. Federico Lombardi, said the pope’s meeting with Mr. Gabriele was “intense” and “personal,” noting that Mr. Gabriele and the pope had worked together closely for six years.

The pardon closes a painful and embarrassing chapter for the Vatican, capping a sensational, Hollywood-like scandal that exposed power struggles, intrigue and allegations of corruption and homosexual liaisons in the highest levels of the Catholic Church.

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Facebook’s new easier-to-manage ‘Privacy Shortcuts’ rolling out globally

Managing Facebook (FB) privacy settings can be a daunting nightmare. Facebook’s new “Privacy Shortcuts” is designed to make sharing items as transparent as possible with always-visible privacy button on the top toolbar. The update also brings “an easier-to-use Activity Log, and a new Request and Removal tool for managing multiple photos you’re tagged in.” The new Facebook privacy controls are rolling out globally starting on Friday and will arrive for all users by the end of the year. For the full details on all of the new changes, be sure to visit Facebook’s Newsroom here.

[More from BGR: Fan-made tweak gives Apple a blueprint for better multitasking in iOS 7 [video]]

This article was originally published by BGR

Social Media News Headlines – Yahoo! News

Title Post: Facebook’s new easier-to-manage ‘Privacy Shortcuts’ rolling out globally
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See If You Can Spot the One Color That Popped on the Carpet This Week

Stylewatch
Style News Now

12/21/2012 at 12:00 PM ET

Getty; Splash News Online; WireImage

Even though we didn’t see as many stars on the red carpet this week as last — it’s quiet in Hollywood this holiday season! — we still saw some strong trends emerge at various events. What were they? Let’s get to it!

Up: Pops of red. You can thank the holidays for this festive mini-trend, which we spotted on Hailee Steinfeld’s purse, Bella Heathcote’s dress and Rose Byrne’s jacket. Adding just a hint of the bold hue to your outfit is an easy way to look all holiday-y without going overboard.

Up: Head-to-toe black. What, are stars sick of sequined dresses already? This week we saw nearly one dozen leading ladies wear all black: Britney Spears, Demi Lovato, LeAnn Rimes, Alexa Chung, Jessica Chastain, Miley Cyrus, Krysten Ritter and Kerry Washington … to name a few. As New Yorkers, we’re always happy to see all-black ensembles en force, and it is a look that’s usually pretty failsafe — and slimming.

Down: Stick-straight hair. Rita Ora was the only woman we saw with pin-straight locks this week; everyone else went for bouncy curls and elegant updos (and cropped cuts, if you count Miley Cyrus!). With Christmas and New Year’s Even upon us, we predict we’ll be seeing a lot more exciting hairdos and less of the minimalist straight looks.

Tell us: Which color are you more likely to wear at the holidays: red or black?

Want more Trend Report? Click to hear our thoughts on mini dresses, cut-outs and collars.

FIND ALL THE LATEST RED CARPET NEWS AND PHOTOS HERE!

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Predicting who's at risk for violence isn't easy

CHICAGO (AP) — It happened after Columbine, Virginia Tech, Aurora, Colo., and now Sandy Hook: People figure there surely were signs of impending violence. But experts say predicting who will be the next mass shooter is virtually impossible — partly because as commonplace as these calamities seem, they are relatively rare crimes.

Still, a combination of risk factors in troubled kids or adults including drug use and easy access to guns can increase the likelihood of violence, experts say.

But warning signs "only become crystal clear in the aftermath, said James Alan Fox, a Northeastern University criminology professor who has studied and written about mass killings.

"They're yellow flags. They only become red flags once the blood is spilled," he said.

Whether 20-year-old Adam Lanza, who used his mother's guns to kill her and then 20 children and six adults at their Connecticut school, made any hints about his plans isn't publicly known.

Fox said that sometimes, in the days, weeks or months preceding their crimes, mass murderers voice threats, or hints, either verbally or in writing, things like "'don't come to school tomorrow,'" or "'they're going to be sorry for mistreating me.'" Some prepare by target practicing, and plan their clothing "as well as their arsenal." (Police said Lanza went to shooting ranges with his mother in the past but not in the last six months.)

Although words might indicate a grudge, they don't necessarily mean violence will follow. And, of course, most who threaten never act, Fox said.

Even so, experts say threats of violence from troubled teens and young adults should be taken seriously and parents should attempt to get them a mental health evaluation and treatment if needed.

"In general, the police are unlikely to be able to do anything unless and until a crime has been committed," said Dr. Paul Appelbaum, a Columbia University professor of psychiatry, medicine and law. "Calling the police to confront a troubled teen has often led to tragedy."

The American Academy of Child & Adolescent Psychiatry says violent behavior should not be dismissed as "just a phase they're going through."

In a guidelines for families, the academy lists several risk factors for violence, including:

—Previous violent or aggressive behavior

—Being a victim of physical or sexual abuse

—Guns in the home

—Use of drugs or alcohol

—Brain damage from a head injury

Those with several of these risk factors should be evaluated by a mental health expert if they also show certain behaviors, including intense anger, frequent temper outbursts, extreme irritability or impulsiveness, the academy says. They may be more likely than others to become violent, although that doesn't mean they're at risk for the kind of violence that happened in Newtown, Conn.

Lanza, the Connecticut shooter, was socially withdrawn and awkward, and has been said to have had Asperger's disorder, a mild form of autism that has no clear connection with violence.

Autism experts and advocacy groups have complained that Asperger's is being unfairly blamed for the shootings, and say people with the disorder are much more likely to be victims of bullying and violence by others.

According to a research review published this year in Annals of General Psychiatry, most people with Asperger's who commit violent crimes have serious, often undiagnosed mental problems. That includes bipolar disorder, depression and personality disorders. It's not publicly known if Lanza had any of these, which in severe cases can include delusions and other psychotic symptoms.

Young adulthood is when psychotic illnesses typically emerge, and Appelbaum said there are several signs that a troubled teen or young adult might be heading in that direction: isolating themselves from friends and peers, spending long periods alone in their rooms, plummeting grades if they're still in school and expressing disturbing thoughts or fears that others are trying to hurt them.

Appelbaum said the most agonizing calls he gets are from parents whose children are descending into severe mental illness but who deny they are sick and refuse to go for treatment.

And in the case of adults, forcing them into treatment is difficult and dependent on laws that vary by state.

All states have laws that allow some form of court-ordered treatment, typically in a hospital for people considered a danger to themselves or others. Connecticut is among a handful with no option for court-ordered treatment in a less restrictive community setting, said Kristina Ragosta, an attorney with the Treatment Advocacy Center, a national group that advocates better access to mental health treatment.

Lanza's medical records haven't been publicly disclosed and authorities haven't said if it is known what type of treatment his family may have sought for him. Lanza killed himself at the school.

Jennifer Hoff of Mission Viejo, Calif. has a 19-year-old bipolar son who has had hallucinations, delusions and violent behavior for years. When he was younger and threatened to harm himself, she'd call 911 and leave the door unlocked for paramedics, who'd take him to a hospital for inpatient mental care.

Now that he's an adult, she said he has refused medication, left home, and authorities have indicated he can't be forced into treatment unless he harms himself — or commits a violent crime and is imprisoned. Hoff thinks prison is where he's headed — he's in jail, charged in an unarmed bank robbery.

___

Online:

American Academy of Child & Adolescent Psychiatry: http://www.aacap.org

___

AP Medical Writer Lindsey Tanner can be reached at http://www.twitter.com/LindseyTanner

Read More..

Wall Street Week Ahead: A lump of coal for "Fiscal Cliff-mas"

NEW YORK (Reuters) - Wall Street traders are going to have to pack their tablets and work computers in their holiday luggage after all.

A traditionally quiet week could become hellish for traders as politicians in Washington are likely to fall short of an agreement to deal with $600 billion in tax hikes and spending cuts due to kick in early next year. Many economists forecast that this "fiscal cliff" will push the economy into recession.

Thursday's debacle in the U.S. House of Representatives, where Speaker John Boehner failed to secure passage of his own bill that was meant to pressure President Obama and Senate Democrats, only added to worry that the protracted budget talks will stretch into 2013.

Still, the market remains resilient. Friday's decline on Wall Street, triggered by Boehner's fiasco, was not enough to prevent the S&P 500 from posting its best week in four.

"The markets have been sort of taking this in stride," said Sandy Lincoln, chief market strategist at BMO Asset Management U.S. in Chicago, which has about $38 billion in assets under management.

"The markets still basically believe that something will be done," he said.

If something happens next week, it will come in a short time frame. Markets will be open for a half-day on Christmas Eve, when Congress will not be in session, and will close on Tuesday for Christmas. Wall Street will resume regular stock trading on Wednesday, but volume is expected to be light throughout the rest of the week with scores of market participants away on a holiday break.

For the week, the three major U.S. stock indexes posted gains, with the Dow Jones industrial average <.dji> up 0.4 percent, the S&P 500 <.spx> up 1.2 percent and the Nasdaq Composite Index <.ixic> up 1.7 percent.

Stocks also have booked solid gains for the year so far, with just five trading sessions left in 2012: The Dow has advanced 8 percent, while the S&P 500 has climbed 13.7 percent and the Nasdaq has jumped 16 percent.

IT COULD GET A LITTLE CRAZY

Equity volumes are expected to fall sharply next week. Last year, daily volume on each of the last five trading days dropped on average by about 49 percent, compared with the rest of 2011 - to just over 4 billion shares a day exchanging hands on the New York Stock Exchange, the Nasdaq and NYSE MKT in the final five sessions of the year from a 2011 daily average of 7.9 billion.

If the trend repeats, low volumes could generate a spike in volatility as traders keep track of any advance in the cliff talks in Washington.

"I'm guessing it's going to be a low volume week. There's not a whole lot other than the fiscal cliff that is going to continue to take the headlines," said Joe Bell, senior equity analyst at Schaeffer's Investment Research, in Cincinnati.

"A lot of people already have a foot out the door, and with the possibility of some market-moving news, you get the possibility of increased volatility."

Economic data would have to be way off the mark to move markets next week. But if the recent trend of better-than-expected economic data holds, stocks will have strong fundamental support that could prevent selling from getting overextended even as the fiscal cliff negotiations grind along.

Small and mid-cap stocks have outperformed their larger peers in the last couple of months, indicating a shift in investor sentiment toward the U.S. economy. The S&P MidCap 400 Index <.mid> overcame a technical level by confirming its close above 1,000 for a second week.

"We view the outperformance of the mid-caps and the break of that level as a strong sign for the overall market," Schaeffer's Bell said.

"Whenever you have flight to risk, it shows investors are beginning to have more of a risk appetite."

Evidence of that shift could be a spike in shares in the defense sector, expected to take a hit as defense spending is a key component of the budget talks.

The PHLX defense sector index <.dfx> hit a historic high on Thursday, and far outperformed the market on Friday with a dip of just 0.26 percent, while the three major U.S. stock indexes finished the day down about 1 percent.

Following a half-day on Wall Street on Monday ahead of the Christmas holiday, Wednesday will bring the S&P/Case-Shiller Home Price Index. It is expected to show a ninth-straight month of gains.

U.S. jobless claims on Thursday are seen roughly in line with the previous week's level, with the forecast at 360,000 new filings for unemployment insurance, compared with the previous week's 361,000.

(Wall St Week Ahead runs every Friday. Questions or comments on this column can be emailed to: rodrigo.campos(at)thomsonreuters.com)

(Reporting by Rodrigo Campos; Additional reporting by Chuck Mikolajczak; Editing by Jan Paschal)

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